01
Capital Gain
Fair market value on the relevant valuation date under the applicable Income Tax provisions.
GOVERNMENT APPROVED ART APPRAISAL
• PAN INDIA
Government Approved Art Appraiser India
Independent.
Authoritative.
Market-Fluent.
Your collection has grown over the years. You acquired the Husain early, before the market recognised what it would become. You picked up the Souza study from a small auction, the Raza Bindu composition from a Mumbai gallery. You inherited the Basholi miniature from your father. And last year you bought the young contemporary artist's large canvas at the opening, because the work moved you and the price was right.
Now your Chartered Accountant is asking for a capital gain certificate for the work you sold last year, your insurer is asking for a replacement cost schedule because your premium is due, and your son, who is managing your estate planning, wants to understand what the collection is worth.
What is this artwork worth?
Each need requires a different answer to the same question. The capital gain certificate needs the fair market value on the relevant date under applicable Income Tax provisions. The insurance schedule needs the replacement cost — what it would cost to replace each work with an equivalent one at today's prices. The estate plan needs the current fair market value for distribution purposes.
PRINCIPAL VALUER
SECTION 34AB
Nitesh Shrivastava
Government Approved Art Valuer
Section 34AB • Works of Art
20+
Years of Indian
Art Market Knowledge
Art Market Knowledge
250+
Professional
Valuation Services
Valuation Services
Government Approved Art & Antiquities Valuer
Nitesh Shrivastava
Government Approved Valuer
Registered Valuation Expert
Professional Authorities & Statutory Registrations
Income Tax Department – Delhi
Income Tax Department – Uttar Pradesh
Income Tax Department – Lucknow
Income Tax Department – Goa
Income Tax Department – Karnataka
Income Tax Department – Mumbai
Income Tax Department – Hyderabad
Income Tax Department – Panchkula
Income Tax Department – Karnal
Income Tax Department – Guwahati
Black Money Act Authorised Valuer
Directorate of Enforcement (ED)
Customs Department Delhi
Delhi High Court & District Courts
Wealth Tax Act
Income Tax Act & IBBI
ONE COLLECTION • MULTIPLE PURPOSES
The Same Artwork Can Have Different Values for Different Purposes.
A Government Approved Art Appraiser does not simply attach a number to a painting. The professional task is to determine which value is required, why it is required, and which methodology supports it.
02
Insurance
Replacement cost based on what it would cost to acquire an equivalent work at current market levels.
03
Estate Planning
Current fair market value for succession, family distribution and estate planning.
04
Acquisition & Pre-Sale
Independent market intelligence before acquiring or consigning significant artwork.
05
Collection Management
Ongoing valuation intelligence for insurance, succession, reporting and collection planning.
THE VALUATION QUESTION
Every Art Appraisal Answers One of Five Questions.
And each question can require a different value for the same artwork. The expertise lies not merely in valuation, but in identifying the correct purpose, methodology and evidentiary basis.
01
₹
What would it cost to replace this work?
Insurance replacement cost — what a dealer or specialist market participant would charge to acquire an equivalent work today. This is generally higher than fair market value.
INSURANCE
02
FMV
What is this work worth in the open market today?
Fair market value — an evidence-based estimate of what a willing buyer and willing seller might agree upon under appropriate market conditions.
FAIR MARKET VALUE
03
01
What was this work worth on a specific date?
Retrospective FMV for capital gain, applicable historical valuation requirements, the 1 April 2001 Section 55(2)(b) substitution and estate valuations at the date of death.
RETROSPECTIVE
04
BUY
What should I pay before I buy this work?
Acquisition due diligence provides an independent assessment of whether the asking price reflects the work's market position, quality, attribution and available comparable evidence.
ACQUISITION
05
SELL
What should I expect if I sell this work?
Pre-sale appraisal — an independent view of a realistic auction or market range, separate from an auction estimate prepared to attract a potential consignment.
PRE-SALE
✓
The value is determined by the purpose.
A Government Approved Art Appraiser's expertise lies in selecting the appropriate methodology, researching comparable evidence, documenting the reasoning and producing the valuation in the format required for the intended purpose.
WHY THE CERTIFICATE CARRIES WEIGHT
Independent Expertise. Statutory Authority. Market Intelligence.
When an artwork valuation is being relied upon for taxation, lending, estate distribution, insurance or institutional decision-making, the question is not simply whether a number has been produced.
The question is whether the valuation has been prepared by the right professional, for the right purpose, using the right methodology and supported by evidence that can withstand scrutiny.
Get Expert Advice Speak with A2Z Valuers • +91-9999992343 →01
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Government Approved Valuer
Section 34AB, Income Tax Act, 1961 — statutory authority supporting the applicable valuation assignment.
02
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Income Tax Department Appointment
Appointed for PAN India art enforcement valuations under the applicable search and seizure provisions.
03
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₹50+ Crore Collection Valuation
Valuation of a ₹50+ crore Mughal jewellery and colonial Indian art collection for India's top auction house in 2025.
04
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Independent From the Transaction
No gallery affiliation, no auction-house interest and no contingency fees influencing the valuation conclusion.
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250+ Professional Valuation Services
Broad professional valuation capability with PAN India coverage across multiple asset classes and purposes.
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Institutional Acceptance
Valuation work prepared for reliance by the Income Tax Department, NCLT, High Court, banks and insurers, subject to applicable requirements.
HAVE AN ARTWORK THAT NEEDS TO BE VALUED?
Start With the Right Valuation Question.
Tell us what the valuation is required for — capital gain, insurance, estate planning, acquisition, pre-sale or ongoing collection management — and receive guidance on the appropriate appraisal route.